Southern Copper Corporation $SCCO Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its holdings in Southern Copper Corporation (NYSE:SCCO) by 34.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 36,907 shares of the basic materials company’s stock after purchasing an additional 9,476 shares during the quarter. Kestra Advisory Services LLC’s holdings in Southern Copper were worth $7,479,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SCCO. BlackRock Inc. purchased a new stake in Southern Copper during the 2nd quarter worth approximately $1,729,500,000. Bank of America Corp DE acquired a new stake in Southern Copper during the 2nd quarter worth approximately $318,448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Southern Copper by 2.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,290,648 shares of the basic materials company’s stock worth $224,908,000 after buying an additional 27,744 shares in the last quarter. Bollard Group LLC boosted its position in Southern Copper by 14.0% in the 1st quarter. Bollard Group LLC now owns 861,950 shares of the basic materials company’s stock valued at $148,307,000 after buying an additional 105,763 shares during the period. Finally, Legal & General Group Plc purchased a new position in Southern Copper in the 2nd quarter valued at approximately $149,739,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 1.2%

Shares of NYSE SCCO opened at $172.38 on Thursday. The company has a market capitalization of $145.55 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.31 and a quick ratio of 3.93. The business has a 50-day moving average of $192.69 and a two-hundred day moving average of $185.39. Southern Copper Corporation has a 1 year low of $119.25 and a 1 year high of $223.88.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.12. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. The business had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the firm posted $1.34 EPS. On average, analysts forecast that Southern Copper Corporation will post 8.01 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 3rd. This is a positive change from Southern Copper’s previous quarterly dividend of $1.10. This represents a $5.20 annualized dividend and a yield of 3.0%. Southern Copper’s dividend payout ratio (DPR) is presently 68.06%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings downgraded shares of Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 30th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Barclays set a $163.27 target price on Southern Copper and gave the stock an “underweight” rating in a research note on Monday, October 26th. Finally, Citigroup restated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $159.47.

Southern Copper Company Profile

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products. The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.